Starting out my journey !!! Altho its a small start

staceydaisy

Right Im back and Im hoping to post regulary and get back into action.

Heres my plan

I will be putting £150.00 a week away for mortgage I will be keeping on interest only till June when we go on SVR of 3.5%. Im hoping to pay a lump some of £200 at the end May.

I then want to keep putting £150.00 a week away which wil lresult in a £150.00 a month OP.

My savings need to be brought back up to scratch so thats £700 to aim for there.

So here goes to more meals at home, we eat out alot. Lots and lots of tips from here.

Keep talking to all the people on here who give me great motivation.

This week so far we have had all meals at home Im going since Monday
Ive had a 2 NSD`S and 2 x LSD`S (spending under £2.50) and spent alot of time catching up on this thread.

I know its long winded but feel like I have alot to tell you

staceydaisy

Forgot to add I have £900 on CC. Altho the interest rate on CC is less that that on mortgage

Mad or what

So another aim is to clear this#

Gonna create a signature now

HarveyGal

Hallo staceydaisy. I have read this thread and want to say thanks for the inspiration. Good luck with the challenge.
I'm with you with paying the small amounts...my signature looks different but I am really using other money to reduce my interest cos it is more cost effective - and then I have to repay the other money - but it keeps me happy!!
Good Luck

staceydaisy

thanks harvey girl

have you got a diary on here

ramirezhenry55

I admire your self control not to eat out even once a week! I must admit that I am feeling guilty on this but promise to cut back on this since I can cook well and geesh I just realized that I am spending a week's food budget with just one meal at a resto.

SmlSave

Right Im back and Im hoping to post regulary and get back into action.

Welcome back stacey Good luck with all your aims and I'm sure you'll get used to eating at home.

Try and make double portions when you're cooking so you can freeze the same and then there's a homemade ready meal waiting for you in the freezer

p.s. I admit that i'm totally sick of pea n ham soup now though as I made so much sometime in December and its still going strong!

johncolescarr

Hi,

Any overpayment is worth it, even if it seems like a drop in the ocean. My partner and I bought a house in 2007 at the top of the market on a 100% mortgage so are in a similar position. We chuck all we can at the mortgage, our fixed rate ran out in Jan this year but not looking for a new deal as I know we wont get one. I really wouldn't worry about trying to find a new deal unless you are on the very edge and need a fixed rate deal to guarantee how much you will be paying as if you don't have 20% equity you will more than likely to be paying more than your SVR - of course check it our a few months before your deal ends but don't bank on getting a good deal on a re mortgage.

Also, I wouldn't dwell on the -ve equity too much as the situation will reverse itself in time (I know it drove me wild at the time as I couldn't believe that I'd lost that much money). And the more you overpay coupled with house prices rising you will gradually get back into healthy equity.

johncolescarr

johncolescarr wrote: »

Hi,

Any overpayment is worth it, even if it seems like a drop in the ocean. My partner and I bought a house in 2007 at the top of the market on a 100% mortgage so are in a similar position. We chuck all we can at the mortgage, our fixed rate ran out in Jan this year but not looking for a new deal as I know we wont get one. I really wouldn't worry about trying to find a new deal unless you are on the very edge and need a fixed rate deal to guarantee how much you will be paying as if you don't have 20% equity you will more than likely to be paying more than your SVR - of course check it our a few months before your deal ends but don't bank on getting a good deal on a re mortgage.

Also, I wouldn't dwell on the -ve equity too much as the situation will reverse itself in time (I know it drove me wild at the time as I couldn't believe that I'd lost that much money). And the more you overpay coupled with house prices rising you will gradually get back into healthy equity.

Just read all of the posts - my post a bit out of date!

staceydaisy

Thank you for all your replys I have some good and bad news so hear goes confession time.

Bought myself a cup of tea and poached eggs on toast only £2 tho. Thats the bad news done with.

Good news - bought myself some tomato seeds gonna have a shot at planting my own altho will have to be pots in gardenb as we only have a small yard.

Louba

Think you can let yourself off with the tea and poached eggs you deserve a wee treat! good luck on the new challenge, sounds like you're really determmined. I really need to get back on track again, we've hit our house deposit target - just aswell as we move a week on Friday, ahh! With the target hit I've lost focus a bit and.......OH proposed at the weekend so we definitely didn't have a no spending weekend Need to get saving for the wedding now, woo hoo.

Anyway - just wanted to say good luck, you're doing really well